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POWER: EU Mid-Day Power Summary: CWE Pulls Back on Weather

POWER
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CWE front-month power futures are pulling back today, tracking the lowest in almost two weeks, with forecasts for milder and windier weather. Nordic front-month power is trading rangebound with upside from a downward revision in hydro balances and downside from losses in the German power market and EU gas markets.

  • Nordic Base Power DEC 24 down 0.3% at 46.6 EUR/MWh
  • France Base Power DEC 24 down 2.3% at 95.25 EUR/MWh
  • Germany Base Power DEC 24 down 2.6% at 101.2 EUR/MWh
  • EUA DEC 24 down 1.3% at 68.34 EUR/MT
  • TTF Gas DEC 24 down 1.7% at 46.405 EUR/MWh
  • Rotterdam Coal DEC 24 down 0.1% at 119.95 USD/MT
  • TTF extends the decline from yesterday with milder weather across Europe easing demand.
  • EU ETS December 2024 is pulling back with losses in EU gas and forecasts for milder, more windy weather in NW Europe, despite more bullish speculator positioning in EU ETS futures with the latest COT data as of 22 November.
  • Gas demand for power generation in Europe (Italy, Belgium, UK, Germany and France) is expected at 179mcm/d for the remainder of this winter, well above last winter’s levels, according to BNEF.
  • Investment Funds positioning in ICE German power futures continued its bearish trend last week with net long positionings decreasing sharply according to the latest COT data as of 22 Nov.
  • Uniper has signed a six-year PPA with Stegra to supply a total of 6TWh of electricity starting 2027.
  • Voltalia has signed a 15-year PPA with CERN to supply power from two solar farms under development in southern France,
  • The introduction of the flow-based capacity calculation method has altered electricity trade in Sweden, boosting north-south trade flows by 30% and enabling more efficient use of the power grid, according to Svenska Kraftnat.
  • Lithuania and the United States have entered an agreement to advance the development of SMRs, with the country to decide by 2028 on building up to five units, the Energy Ministry said.
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CWE front-month power futures are pulling back today, tracking the lowest in almost two weeks, with forecasts for milder and windier weather. Nordic front-month power is trading rangebound with upside from a downward revision in hydro balances and downside from losses in the German power market and EU gas markets.

  • Nordic Base Power DEC 24 down 0.3% at 46.6 EUR/MWh
  • France Base Power DEC 24 down 2.3% at 95.25 EUR/MWh
  • Germany Base Power DEC 24 down 2.6% at 101.2 EUR/MWh
  • EUA DEC 24 down 1.3% at 68.34 EUR/MT
  • TTF Gas DEC 24 down 1.7% at 46.405 EUR/MWh
  • Rotterdam Coal DEC 24 down 0.1% at 119.95 USD/MT
  • TTF extends the decline from yesterday with milder weather across Europe easing demand.
  • EU ETS December 2024 is pulling back with losses in EU gas and forecasts for milder, more windy weather in NW Europe, despite more bullish speculator positioning in EU ETS futures with the latest COT data as of 22 November.
  • Gas demand for power generation in Europe (Italy, Belgium, UK, Germany and France) is expected at 179mcm/d for the remainder of this winter, well above last winter’s levels, according to BNEF.
  • Investment Funds positioning in ICE German power futures continued its bearish trend last week with net long positionings decreasing sharply according to the latest COT data as of 22 Nov.
  • Uniper has signed a six-year PPA with Stegra to supply a total of 6TWh of electricity starting 2027.
  • Voltalia has signed a 15-year PPA with CERN to supply power from two solar farms under development in southern France,
  • The introduction of the flow-based capacity calculation method has altered electricity trade in Sweden, boosting north-south trade flows by 30% and enabling more efficient use of the power grid, according to Svenska Kraftnat.
  • Lithuania and the United States have entered an agreement to advance the development of SMRs, with the country to decide by 2028 on building up to five units, the Energy Ministry said.